Melchior to hard-close European fund at $100m

Dalton Strategic Partners' Melchior European fund, managed by Leonard Charlton, has been hard-closed at $100m.

The Cayman Islands-domiciled European equity long/short fund was first launched in October 2006 but has now been hard-closed following a period of strong inflows, the company said. The closure follows the capping of the UCITS III version of the fund, the Melchior Selected Trust European Absolute Return fund, in July this year. "We believe that by closing the Melchior European fund, and thereby limiting the assets under management, Leonard and his team will retain the ability to take positions in their best stock ideas at the volume required," said managing partner Magnus Spence. "S...